Marketing Principles - Understanding Consumer Needs - Keeping Ahead of Competition - Communicating Effectively with Consumers - Utilising New Technology.

Marketing Principles - Understanding Consumer

Needs - Keeping Ahead of

Competition - Communicating

Effectively with Consumers

- Utilising New Technology. E.g. Internet marketing and sales.

What is Market Research?

• Market Research can be defined as the collection, examination and data

relating to marketing and consumption of goods and services.

• A Business will carry out Market Research to find out about Markets,

Customers and Competitors.

Types of Market Research

• Primary (Field) ResearchMethods include:• Interviews• Questionnaires• Focus Groups• Analysing purchase records

• Secondary (Desk) ResearchMethods include:• Electoral Rolls• Yellow Pages• Internet research• Journals.

Quantitative Research

• Quantitative Research looks at WHY customers’ buy.

In particular: • Customer Behaviour, • Motivation, • Tastes and Preferences.

Qualitative Research

• Qualitative Research is made up of “WHO” and “WHAT” type of Questions

Qualitative Research examines the:1. Attitudes2. Feelings3. Motivations of product users

Task 1 – Planning and Conducting Market Research

• The first task requires you to describe the marketing activities of a selected sports business; Gloucester Rugby Club, drawing upon, and using specific examples (P5).

• How Gloucester Rugby Club markets now compared to earlier years?

• Consider all the Heritage items you have just been looking at.

Task 2 – Planning and Conducting Market Research

• Plan (P3) and conduct (P4 / M3) market research for a Gloucester Rugby Club. The research should involve both primary research and secondary research, to allow you to draw specific conclusions.

• You may like to focus it around shirt sales.

Areas to consider

• Reasons for Conducting the research• What you want to find out, e.g., Price

range, facility, opening Times• Secondary Methods to be used – Internet

research etc. • Primary Methods to be used, e.g.,

Questionnaires? • Size of Sample group that you will conduct

the research with (P4 / M3)

What is Marketing all about…?• Fundamentally, marketing is all about

identifying and meeting customer needs.

• Another way to understand marketing is through the marketing mix.

Task 3• You have been appointed head of marketing

for the following products

2009/10 Gloucester Rugby Shirt

• Apply the following marketing principles to your product. Consider the current market, financial climate, and where your product already exists.

The Marketing Mix

The 4 Ps

Product

• Product – Who are our customers and what do they want to buy? How are you going to find out this information? What new products are we planning to offer?

Price

• Price? How much should we charge? Should we reduce the price at the start to attract interest? Can we charge different prices to different customers?

Promotion

• Promotion – How can we tell people about our products? Where should we advertise to attract the attention of our key customers. Should we give free samples or run a competition?

Place• Place – How can we distribute our

products? Should we sell direct to our customers or through retailers? How can the internet help us to sell more? Where is the best location for us to set up our business?

Task 3 Recap – Planning and Conducting Market Research

• Your task is to produce a marketing plan, using the ‘4 Ps’ (Price, Place, Product, Promotion and People. Your plan should be presented through a PowerPoint presentation, which you will present to the module leader.

• Areas to consider• Using the research that you have already conducted, you must

decide on how this will shape the following (P5), justifying each section (M4).

• Price• Place• Product• Promotion• Once completed, you may include a concluding slide to evaluate the

marketing plan, identifying possible areas for improvement (D2)